VAT

Civil Society Organizations (CSOs), under the auspices of The Tax Justice and Governance Platform, (TJGP) have called on the federal government to concentrate more efforts on ensuring the proper collection of appropriate taxes than increasing the Valued Added Tax.

The Senate Committee on Finance is to invite the Minister of Finance, Zainab Ahmed, and the Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler to throw more light on the reasons for the proposed increase of Value Added Tax (VAT) from current 5 per cent to 7.2 per cent.

The Nigeria Employers’ Consultative Association has said the implementation of the 7.2 per cent Value Added Tax approved by the Federal Executive Council will make nonsense of the recent increase in minimum wage.

The Presidency Monday, raised the alarm that the country might be heading for a fiscal crisis unless urgent steps were not taken to halt the negative trends in target setting and realisation in government revenue.

All is not rosy between Kogi state governor, Yahaya Bello, and deputy governor, Simon Achuba. Ahead of the November 16 governorship election in the state, Mr. Achuba has chosen to come out of his shell to let the world know how terrible things have been for the North-Central state in the past four years.

The Federal Inland Revenue Service (FIRS) may, from next year, ask banks to charge customers five per cent Value Added Tax for online purchases when using bank cards, its Chairman, Tunde Fowler, has said.

Nigeria’s tax system is fraught with crippling challenges of weak enforcement, corruption, and outright evasion. This is costing the country losses amounting to billions of naira, both locally and internationally, said Oxfam, an international development organisation.

Recent Stories

“It is understandable to say that the office of the First Lady has nothing to do with the epileptic supply of electricity to students’ environment,” a statement by the NYCN read, “but it would have been wise and safer if she had taken time to address and appease the agitating students.”

Minister of Power Alhaji Sale Mamman says that the Buhari administration is determined to provide and ensure that Nigerian universities enjoy reliable and uninterrupted power supply throughout the academic calendar.

Tunisian giants, Esperance, will today know if their ‘victory’ over Wydad Athletic Club of Morocco on May 31 ‘controversial’ CAF Champions League final will be upheld or upturned by the Appeals Board led by Nigeria’s Abdulhakeem Mustapha (SAN).

Bale has scored three goals in three games for Real Madrid this season. He is expected to stay out of action when Los Blancos host Levante at the Santiago Bernabeu in their next La Liga game due to suspension, after he was shown a red card in their last time out.